Hyatt Announces Acquisition of Austin?s Historic Driskill Hotel
Acquisition deepens Hyatt?s presence in one of the fastest growing
markets in the U.S.
CHICAGO–(BUSINESS WIRE)–Mar. 8, 2013–
Fresh from announcing the opening of the 296-room Hyatt Place Austin
Downtown, Hyatt Hotels Corporation (NYSE:H) today announced that a Hyatt
affiliate has acquired the 189-room Driskill Hotel for approximately $85
million from an investment fund managed by Lowe Enterprises Investors,
which was represented in the transaction by Jones Lang LaSalle?s Hotels
& Hospitality Group.
The transaction closed earlier today and the hotel will continue to be
marketed as The Driskill Hotel u…